Netflix is getting ready for a new pricing structure, according to the company’s Q4 letter to shareholders released Wednesday. In it, CEO Reed Hastings and CFO David Wells write: “Last April we introduced a 4-concurrent stream $11.99 option to begin our evaluation of plan tiering. Since late last year, we have also been testing 1-stream and 3-stream variants, as well as SD/HD variations, at various price points. Eventually, we hope to be able to offer new members a selection of three simple options to fit everyone’s taste.” The duo added that existing members would get “generous grandfathering of their existing plans and prices,” and also stated that the company is in “no rush to implement such new member plans and (is) still researching the best way to proceed.” This would be the first significant pricing change since Netflix split up its DVD and streaming business in 2011, a move that was highly unpopular with existing members. Read the full story at Giga OM.